Thursday, July 07, 2005

EBay to Launch PayPal in China by End of Year

From Forbes: EBay to launch PayPal in China by end of year, rival 'not concerned'

"EBay Inc will launch its online payment system PayPal in China by the end of the year, according to an EBay China spokeswoman. But EBay's chief rival, Alibaba.com, which operates its own online payment service, AliPay, is unconcerned about PayPal's entrance into the field. 'We're ready, we're prepared and not very concerned because they've got a lot of catching up to do,' said Porter Erismann, vice president of corporate marketing for Alibaba.com."

"Ebay, which had first-mover advantage in China's online auction market, had originally scheduled its launch of PayPal for the first quarter of this year."

"But Ebay downplayed their late entry to the China online payment market. 'We think that for China, the online payment or e-commerce market is still at the early moment, so we don't think we are late,' said Lillian Liu, a spokeswoman for Ebay China."

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